• bitcoinBitcoin (BTC) $ 61,106.00
  • ethereumEthereum (ETH) $ 3,368.86
  • tetherTether (USDT) $ 0.999451
  • bnbBNB (BNB) $ 572.32
  • solanaSolana (SOL) $ 135.89
  • usd-coinUSDC (USDC) $ 0.999891
  • staked-etherLido Staked Ether (STETH) $ 3,367.88
  • xrpXRP (XRP) $ 0.475710
  • the-open-networkToncoin (TON) $ 7.57
  • dogecoinDogecoin (DOGE) $ 0.122656
  • cardanoCardano (ADA) $ 0.388753
  • tronTRON (TRX) $ 0.120701
  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • avalanche-2Avalanche (AVAX) $ 25.20
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 61,222.00
  • chainlinkChainlink (LINK) $ 13.94
  • polkadotPolkadot (DOT) $ 5.79
  • bitcoin-cashBitcoin Cash (BCH) $ 373.93
  • uniswapUniswap (UNI) $ 9.45
  • nearNEAR Protocol (NEAR) $ 5.58
  • wrapped-eethWrapped eETH (WEETH) $ 3,501.30
  • leo-tokenLEO Token (LEO) $ 5.75
  • litecoinLitecoin (LTC) $ 70.47
  • matic-networkPolygon (MATIC) $ 0.566817
  • daiDai (DAI) $ 0.999853
  • pepePepe (PEPE) $ 0.000012
  • fetch-aiFetch.ai (FET) $ 1.68
  • internet-computerInternet Computer (ICP) $ 8.13
  • kaspaKaspa (KAS) $ 0.154622
  • ethena-usdeEthena USDe (USDE) $ 0.999863
  • ethereum-classicEthereum Classic (ETC) $ 23.35
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,403.49
  • aptosAptos (APT) $ 6.92
  • moneroMonero (XMR) $ 163.22
  • render-tokenRender (RNDR) $ 7.71
  • hedera-hashgraphHedera (HBAR) $ 0.078671
  • cosmosCosmos Hub (ATOM) $ 6.96
  • arbitrumArbitrum (ARB) $ 0.820927
  • stellarStellar (XLM) $ 0.090368
  • filecoinFilecoin (FIL) $ 4.42
  • mantleMantle (MNT) $ 0.760138
  • okbOKB (OKB) $ 41.31
  • crypto-com-chainCronos (CRO) $ 0.091075
  • blockstackStacks (STX) $ 1.60
  • immutable-xImmutable (IMX) $ 1.55
  • injective-protocolInjective (INJ) $ 23.00
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999003
  • suiSui (SUI) $ 0.893134
  • lido-daoLido DAO (LDO) $ 2.43
  • the-graphThe Graph (GRT) $ 0.220833
  • vechainVeChain (VET) $ 0.025542
  • makerMaker (MKR) $ 2,211.27
  • optimismOptimism (OP) $ 1.77
  • bittensorBittensor (TAO) $ 279.82
  • arweaveArweave (AR) $ 29.45
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,741.67
  • dogwifcoindogwifhat (WIF) $ 1.88
  • ondo-financeOndo (ONDO) $ 1.21
  • fantomFantom (FTM) $ 0.604304
  • flokiFLOKI (FLOKI) $ 0.000173
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,495.93
  • theta-tokenTheta Network (THETA) $ 1.56
  • bitget-tokenBitget Token (BGB) $ 1.10
  • based-brettBrett (BRETT) $ 0.151204
  • jasmycoinJasmyCoin (JASMY) $ 0.030813
  • bonkBonk (BONK) $ 0.000022
  • notcoinNotcoin (NOT) $ 0.014391
  • thorchainTHORChain (RUNE) $ 4.14
  • aaveAave (AAVE) $ 91.09
  • whitebitWhiteBIT Coin (WBT) $ 9.35
  • celestiaCelestia (TIA) $ 6.86
  • coredaoorgCore (CORE) $ 1.36
  • eosEOS (EOS) $ 0.571538
  • pyth-networkPyth Network (PYTH) $ 0.323360
  • sei-networkSei (SEI) $ 0.371291
  • algorandAlgorand (ALGO) $ 0.137431
  • quant-networkQuant (QNT) $ 75.36
  • jupiter-exchange-solanaJupiter (JUP) $ 0.786589
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,408.88
  • galaGALA (GALA) $ 0.028402
  • flare-networksFlare (FLR) $ 0.023924
  • gatechain-tokenGate (GT) $ 7.64
  • ethenaEthena (ENA) $ 0.558825
  • flowFlow (FLOW) $ 0.627146
  • starknetStarknet (STRK) $ 0.719708
  • kucoin-sharesKuCoin (KCS) $ 9.60
  • zebec-protocolZebec Protocol (ZBC) $ 0.017841
  • singularitynetSingularityNET (AGIX) $ 0.704905
  • pendlePendle (PENDLE) $ 5.85
  • axie-infinityAxie Infinity (AXS) $ 6.14
  • bitcoin-svBitcoin SV (BSV) $ 44.55
  • tokenize-xchangeTokenize Xchange (TKX) $ 10.53
  • bittorrentBitTorrent (BTT) $ 0.00000087
  • dydx-chaindYdX (DYDX) $ 1.41
  • beam-2Beam (BEAM) $ 0.016335
  • elrond-erd-2MultiversX (EGLD) $ 29.58
  • neoNEO (NEO) $ 11.28
  • tezosTezos (XTZ) $ 0.778054
  • gnosisGnosis (GNO) $ 294.14
  • ordinalsORDI (ORDI) $ 35.94
  • the-sandboxThe Sandbox (SAND) $ 0.329931
  • msolMarinade Staked SOL (MSOL) $ 162.59
  • worldcoin-wldWorldcoin (WLD) $ 2.95
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,376.33
  • ethereum-name-serviceEthereum Name Service (ENS) $ 23.17
  • usddUSDD (USDD) $ 0.995851
  • roninRonin (RON) $ 2.17
  • akash-networkAkash Network (AKT) $ 3.00
  • layerzeroLayerZero (ZRO) $ 2.79
  • fasttokenFasttoken (FTN) $ 2.22
  • chilizChiliz (CHZ) $ 0.077541
  • havvenSynthetix Network (SNX) $ 2.03
  • frax-etherFrax Ether (FRXETH) $ 3,373.15
  • fraxFrax (FRAX) $ 0.997738
  • nexoNEXO (NEXO) $ 1.15
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,619.63
  • conflux-tokenConflux (CFX) $ 0.154487
  • ecasheCash (XEC) $ 0.000032
  • wormholeWormhole (W) $ 0.349645
  • dexeDeXe (DEXE) $ 11.02
  • lido-staked-solLido Staked SOL (STSOL) $ 160.75
  • decentralandDecentraland (MANA) $ 0.334612
  • book-of-memeBOOK OF MEME (BOME) $ 0.009038
  • oasis-networkOasis Network (ROSE) $ 0.091205
  • zksyncZKsync (ZK) $ 0.165856
  • apecoinApeCoin (APE) $ 0.970787
  • mina-protocolMina Protocol (MINA) $ 0.542573
  • safeSafe (SAFE) $ 1.41
  • mantra-daoMANTRA (OM) $ 0.720072
  • iotaIOTA (IOTA) $ 0.178060
  • swethSwell Ethereum (SWETH) $ 3,568.76
  • klay-tokenKlaytn (KLAY) $ 0.156383
  • tether-goldTether Gold (XAUT) $ 2,327.80
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.15
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.005688
  • heliumHelium (HNT) $ 3.29
  • livepeerLivepeer (LPT) $ 16.65
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,668.69
  • nervos-networkNervos Network (CKB) $ 0.011564
  • 1inch1inch (1INCH) $ 0.400238
  • mog-coinMog Coin (MOG) $ 0.000001
  • kavaKava (KAVA) $ 0.458501
  • true-usdTrueUSD (TUSD) $ 0.998172
  • theta-fuelTheta Fuel (TFUEL) $ 0.074138
  • aioz-networkAIOZ Network (AIOZ) $ 0.438952
  • xdce-crowd-saleXDC Network (XDC) $ 0.032068
  • rocket-poolRocket Pool (RPL) $ 23.15
  • arkhamArkham (ARKM) $ 2.01
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.090553
  • ocean-protocolOcean Protocol (OCEAN) $ 0.708410
  • bitcoin-goldBitcoin Gold (BTG) $ 25.76
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000081
  • apenftAPENFT (NFT) $ 0.00000045
  • stader-ethxStader ETHx (ETHX) $ 3,462.79
  • turboTurbo (TURBO) $ 0.006239
  • illuviumIlluvium (ILV) $ 65.04
  • pax-goldPAX Gold (PAXG) $ 2,307.43
  • aevo-exchangeAevo (AEVO) $ 0.510692
  • blurBlur (BLUR) $ 0.249537
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.02
  • memecoin-2Memecoin (MEME) $ 0.019926
  • woo-networkWOO (WOO) $ 0.213864
  • usdbUSDB (USDB) $ 0.999438
  • paypal-usdPayPal USD (PYUSD) $ 0.998885
  • curve-dao-tokenCurve DAO (CRV) $ 0.319450
  • corgiaiCorgiAI (CORGIAI) $ 0.001169
  • axelarAxelar (AXL) $ 0.564535
  • raydiumRaydium (RAY) $ 1.50
  • echelon-primeEchelon Prime (PRIME) $ 9.52
  • popcatPopcat (POPCAT) $ 0.403182
  • wemix-tokenWEMIX (WEMIX) $ 1.08
  • astarAstar (ASTR) $ 0.067690
  • magaMAGA (TRUMP) $ 8.27
  • iotexIoTeX (IOTX) $ 0.040348
  • dydxdYdX (ETHDYDX) $ 1.41
  • ether-fiEther.fi (ETHFI) $ 3.28
  • mx-tokenMX (MX) $ 3.82
  • aerodrome-financeAerodrome Finance (AERO) $ 0.727873
  • osmosisOsmosis (OSMO) $ 0.547542
  • pepecoin-2PepeCoin (PEPECOIN) $ 3.10
  • kusamaKusama (KSM) $ 23.99
  • golemGolem (GLM) $ 0.362437
  • compound-ethercETH (CETH) $ 67.70
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000017
  • stepnGMT (GMT) $ 0.164297
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.003905
  • safepalSafePal (SFP) $ 0.746653
  • aragonAragon (ANT) $ 8.53
  • compound-governance-tokenCompound (COMP) $ 49.42
  • manta-networkManta Network (MANTA) $ 1.02
  • holotokenHolo (HOT) $ 0.001845
  • zilliqaZilliqa (ZIL) $ 0.017354
  • polymeshPolymesh (POLYX) $ 0.302750
  • celoCelo (CELO) $ 0.595227
  • compound-wrapped-btccWBTC (CWBTC) $ 1,226.91
  • ioio.net (IO) $ 3.31
  • ankrAnkr Network (ANKR) $ 0.031245
  • 0x0x Protocol (ZRX) $ 0.367122
  • biconomyBiconomy (BICO) $ 0.381059
  • superfarmSuperVerse (SUPER) $ 0.669824

XRP’s On-Chain Momentum May Soon Carry Over to Its Price

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A report released by Kaiko revealed that network and trading activity for Ripple (XRP) has spiked over the past few weeks. Despite the uptick in on-chain activity, the token’s inability to sustain its latest gains has left observers questioning the factors influencing its volatile trajectory.

According to the report, August was a turbulent month for the remittance token, with its price plummeting by over 25%. This underperformance was in stark contrast to other top altcoins, prompting speculation on why XRP failed to capitalize on its earlier gains.

Furthermore, Kaiko’s data revealed that the market sentiment for XRP shifted as traders capitalized on profit-taking opportunities, leading to downward pressure on the token’s value. Despite its price struggles, XRP displayed remarkable trading activity when compared to other altcoins throughout the past month.

According to Kaiko, XRP’s average trade volume for the previous month reached $462 million, which is reportedly four times higher than its closest contenders, Solana (SOL) and Binance Coin (BNB), with trade volumes of $128 million and $121 million respectively. The analysis of the average share of sell volume, however, highlights the notable role of different exchanges.

Notably, the largest Korean exchange, Upbit, as well as OKX, experienced substantial selling pressure, while buying activity was more pronounced on Coinbase during the same period. This suggests a diverse market sentiment with varying levels of interest in buying and selling on different platforms.

Furthermore, the report showed that XRP’s average trade size on Coinbase, one of the leading U.S. exchanges, stood out, surpassing the trade sizes of other top ten altcoins. This suggests a renewed demand for XRP among U.S. investors, potentially influencing its trading trends.

While XRP’s trading activity remains high, there is an interesting geographical disparity. Despite topping the list in offshore markets, XRP’s dominance in U.S. markets remains lower, ranking as the sixth most traded altcoin by cumulative volume.

XRP’s On-Chain Momentum May Soon Carry Over to Its Price

Daily chart for XRP/USDT (Source: TradingView)

From a technical perspective, XRP recently established a higher low in the past few days, resulting in the emergence of a positive trend line on its daily chart. Additionally, the altcoin’s price demonstrated a positive pattern for the preceding three days. Subsequently, XRP was striving to surpass the 9-day EMA line positioned around $0.5139.

Should it successfully overcome this technical indicator, it is likely to make an effort to flip the resistance level at $0.5380 into a support level. This price point also corresponded roughly to the 20-day EMA line.

Accomplishing a daily candle close above this threshold would pave the way for XRP’s price to maintain its upward trajectory toward the next significant obstacle at $0.5890 in the upcoming days, assuming that bullish momentum remains and continues to bolster the altcoin. This upward momentum could also drive XRP to $0.6405 within the following two weeks.

Conversely, if there is a rejection encountered at the 9-day EMA line today, it might prompt XRP’s price to retract and revisit the positive trend line that formed on its charts. A breach below this level could then expose the cryptocurrency to the risk of descending to the subsequent critical support level situated at $0.4715 in the following few days.

Meanwhile, CoinMarketCap indicated that XRP’s price had slipped 0.62% during the past 24 hours of trading. This negative daily performance had pushed the altcoin’s weekly performance further into the red zone as well – taking the total down to -2.77%. Consequently, XRP’s price stood at $0.5039 at press time.

Although XRP’s price dropped during the previous day of trading, its trading volume experienced a 20.45% increase during this same period. As a result, the total 24-hour trading volume for XRP was estimated to be just over $751 million.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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